Was on my premarket gap scanner and it had some massive premarket volume. I watched it spike up at 9:45, pull back for for 5 min, then spike up again for 10 more min. I then saw a large red candle followed by a bounce and then another large red candle. I was confident this was the backside of the move so when it was hovering between 2.30 and 2.40 I decided to set a limit order for 2.40 which was the trough of the first dip. My order was filled and soon the stock went higher. My risk wasn't hit and it churned its way down. It his some resistance around 2.20 so I sold 25% there and it continued down. It pretty much stayed under 2.20 so I was content with holding what I had left. I covered at the close of the market and at the bottom of the move.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-12-06 10:25:26 | SAVA | sell | $2.400 | short |
2019-12-06 10:52:18 | SAVA | buy | $2.200 | short |
2019-12-06 15:58:12 | SAVA | buy | $1.790 | 0 |
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Wow!! Awesome trade buddy!